SouthernMan Posted April 21, 2005 Share Posted April 21, 2005 my understanding is that he walked into a business set up by his father and never really started anything on his own (except for the bills, of course, which is no small potatoes, given their current net worth). now he apparently didn't run dad's business into the ground, but all the same he is where he is because of his very wealthy forbears. it's not as if he got where he is via entrepreneurial genius or by pulling himself up by his bootstraps. 311465[/snapback] I don't know the answer to this. Did Sr. have a prosperous Detroit insurance business that put Jr in charge of the vault, or was is nothing more than a modest storefront insurance business that Jr took over and built into an empire with his own expertise and business savvy? Link to comment Share on other sites More sharing options...
Arkady Renko Posted April 21, 2005 Share Posted April 21, 2005 I was just at lunch reading an article in the LA Times about the new TV contract. It basically said that the league doesn't need LA as a market whatsoever and is doing quite well without them, thank you. The one rather startling fact was: But it also stated that it probably bumped the worth of each franchise by 150 million overnight. That may not help a local Buffalo guy trying to buy them from Ralph. I am one who thinks the Bills aren't going anywhere and the league will try to keep a team here when Ralph unfortunately passes, but it still is going to help the teams with new stadiums and with deep pockets, because salaries are going to rise quickly and players are going to jump at the huge bonus money offered and the teams with the best cash flow will have a distinct advantage. They did mention four franchises that would be hurt by this, and Buffalo was not one of them however. http://www.latimes.com/sports/la-sp-nfltv2...ack=1&cset=true 310668[/snapback] Don't worry, I am working hard to build my fortune. I am almost 0.5% there! Link to comment Share on other sites More sharing options...
Kelly the Dog Posted April 21, 2005 Author Share Posted April 21, 2005 Don't worry, I am working hard to build my fortune. I am almost 0.5% there! 311934[/snapback] Sadly, the article was saying that franchises are worth $1B soon. You've made $5,000,000 already? Link to comment Share on other sites More sharing options...
Arkady Renko Posted April 21, 2005 Share Posted April 21, 2005 Although I think the dropping of the estate tax is just another "give the rich some more money" deals, it may keep the Bills in Ralph's family. 310842[/snapback] Give the rich more money? Don't you mean dropping the estate tax is just taking less money from the rich? Or is all property owned by the government? Are we just leasing it or something? Link to comment Share on other sites More sharing options...
Arkady Renko Posted April 21, 2005 Share Posted April 21, 2005 Sadly, the article was saying that franchises are worth $1B soon. You've made $5,000,000 already? 311941[/snapback] Hmm.. I should have probably calculated that percentage before I put it up there. Let me do the math... All right, if we are talking 1 billion, then... 0.003% Link to comment Share on other sites More sharing options...
SouthernMan Posted April 21, 2005 Share Posted April 21, 2005 Give the rich more money? Don't you mean dropping the estate tax is just taking less money from the rich? Or is all property owned by the government? Are we just leasing it or something? 311943[/snapback] Well said. And anyway, "rich" is such a relative term. When I was a working class 20-something shmoe looking for work in Buffalo, I thought anyone who could actually not live paycheck to paycheck, put money in the bank, and have a retirement account must be "rich". I never dreamed of having excess cash, owning a home with 4 full baths, or even having a 1999 Honda with the front bumber falling off! (back then, 1999 was wayyyyy in the future, so the thought of a 1999 automobile with a built-in CD player seemed fantastic!!!!) Link to comment Share on other sites More sharing options...
SF Bills Fan Posted April 21, 2005 Share Posted April 21, 2005 There is the possibility that some wealthy guy from out of town could buy the Bills and keep them in Buffalo. McCombs did that with Minnesotta and Ralph is a Detroit guy. It's not a novel idea. The Bills make money and it might be silly to look for greener pastures when there is a good situation right there. I'd like it a lot more if somone like Golisano, the Jacobs or a partnership involving the Rich family took over. But maybe someone from NYC, for example, might be OK too. Link to comment Share on other sites More sharing options...
dave mcbride Posted April 21, 2005 Share Posted April 21, 2005 I don't know the answer to this. Did Sr. have a prosperous Detroit insurance business that put Jr in charge of the vault, or was is nothing more than a modest storefront insurance business that Jr took over and built into an empire with his own expertise and business savvy? 311693[/snapback] based on what people i know (and trust) have told me in the past, i'm pretty sure it's the former, but to be honest, i'm not completely sure. i just googled the subject, and the stuff i've come up with is pretty vague and pretty much pr pieces on nfl-related/sponsored websites. i'll ask around among people i know ... Link to comment Share on other sites More sharing options...
Dr. Fong Posted April 21, 2005 Share Posted April 21, 2005 As long as player salaries are still a percentage of revenue Buffalo will be fine no matter how crazy salaries get. Revenue sharing and the salary cap are two big reasons why the NFL is the best pro sports league. I hope all sides realize that and the new CBA reflects this reality. Link to comment Share on other sites More sharing options...
LancasterSteve Posted April 21, 2005 Share Posted April 21, 2005 Give the rich more money? Don't you mean dropping the estate tax is just taking less money from the rich? Or is all property owned by the government? Are we just leasing it or something? 311943[/snapback] The banks own 90% and even that figure might be low. You know who's the most powerful man in Washington? Nope its not Bush...its Greenspan, who heads the Fed. As far as the future of the Bills? Good question and will make it a point to ask Mr. Wilson when I see him at the stadium this up-coming season. In a sort of round-about way, of couse. And no IM not BS'n, I usually have a chance to talk with Mr. Wilson 2-3 times a year. One of the nicest man I've ever met and though he's really slowed down, his mind IMO is just as sharp. Link to comment Share on other sites More sharing options...
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